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Nakatomi Toyota. Nakatomi Toyota buys its cars from Toyota Motors (U.S.), and sells them to U.S customers. One of its customers is EcoHire, a car
Nakatomi Toyota. Nakatomi Toyota buys its cars from Toyota Motors (U.S.), and sells them to U.S customers. One of its customers is EcoHire, a car rental firm that buys cars from Nakatomi Toyota at a wholesale price. Final payment is due to Nakatomi Toyota in five months. EcoHire has bought $208,000 worth of cars from Nakatomi, with a cash down payment of $41,600 and the balance due in five months without any interest charged as a sales incentive. Nakatomi Toyota will have the EcoHire receivable accepted by Alliance Acceptance for a 1.9% fee, and then sell it at a 3.2% per annum discount to Wells Fargo Bank a. What is the annualized percentage all-in cost to Nakatomi Toyota? b. What are Nakatomi's net cash proceeds, including the cash down payment? (NOTE: Assume a 360-day year.) (Round to the nearest cent.) The amount financed is $ The trade acceptance fee is $ The discount for the period is $ Calculate the proceeds to Nakatomi Toyota below: (Round to the nearest cent.) (Round to the nearest cent.) (Round to the nearest cent.) Return to My Co Trade Acceptance Face amount of sale Less cash down-payment Amount for financing Less trade acceptance fee Less discount for the period Proceeds to Nakatomi Tovota hat is the annualized percentage all-in cost to Nakatomi Toyota? The annualized percentage all-in cost (AIC) is %. (Round to three decimal places.)
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